About Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Sellers & buyers negotiate to determine who will pay different portions of these closing costs.

As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. Since BeneGroup, Inc. has extensive experience with closings and mortgages, we are closing cost experts.

Loan Estimate (LE)

Soon after you submit your application, we'll provide you with the "Loan Estimate" of your costs. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between the LE and closing. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below is a general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Escrow Fees
• Taxes
• Loan-related costs
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

• Flood or Earthquake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

At BeneGroup, Inc., we answer questions about closing costs every day. Give us a call: 4083956018.